Victory Capital Management Inc. Increases Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Victory Capital Management Inc. increased its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 55.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 39,439 shares of the technology company’s stock after buying an additional 14,020 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Benchmark Electronics worth $1,748,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Benchmark Electronics in the first quarter valued at about $136,000. ProShare Advisors LLC purchased a new position in Benchmark Electronics in the first quarter valued at approximately $214,000. State Board of Administration of Florida Retirement System increased its position in Benchmark Electronics by 31.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 18,313 shares of the technology company’s stock worth $550,000 after buying an additional 4,368 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Benchmark Electronics by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after buying an additional 159,716 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Benchmark Electronics by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the technology company’s stock valued at $936,000 after buying an additional 647 shares during the last quarter. Institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Stock Up 1.1 %

NYSE:BHE opened at $48.17 on Monday. The firm has a 50-day simple moving average of $45.32 and a two-hundred day simple moving average of $42.63. The firm has a market cap of $1.73 billion, a P/E ratio of 28.01 and a beta of 0.97. Benchmark Electronics, Inc. has a fifty-two week low of $24.75 and a fifty-two week high of $52.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36.

Benchmark Electronics (NYSE:BHE) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Benchmark Electronics’s revenue for the quarter was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.17 per share. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s dividend payout ratio is currently 39.53%.

Insider Transactions at Benchmark Electronics

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the sale, the senior vice president now owns 47,991 shares in the company, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Lake Street Capital lifted their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC boosted their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.